Funky looking Gartley, but the ratios match up.. so let's short 1) RSI Overbought 2) Gartley Demensions Confirmed 3) Fib Extension Confirmed but barley
1) RSI touching 70 2) Fib Extension for D leg met 3) Cypher Pattern Completed 4) ATR trading in mid range, so SL will be set to ensure 1.5 risk:reward
We've seen this descending triangle play out all year and it's stuck to formation. The question is at this point, how well will harmonics play into the direction and support/resistance. The .618 fib, has played out twice this year and looks to be setting up for a 3rd time. I'm looking at two things..not a bunch of indicators or hype/fud.. 1) from the three...
Yellow area is highlighted as a potential reversal zone, however if it is broken, look for a descending triangle (bearish) to play out, and short the breakout down.
1) RSI Overbought 2) Extension Met 3)Max butterfly ratio confirmed
EURAUD Bearish Cypher (15 min, Sep 3rd) Short Term Scalp Opportunity
Four things, 1) RSI Trading Oversoldbought 2) FIB Extension not confirmed (Watch out for pattern failure) 3) ATR very low; market volatility low means we can have a wider stop 4) BAT pattern completed
3 things, 1) RSI Overbought 2) FIb extension confimed last leg 3) Gartley Pattern Confirmed
Q4 of 2018 will be directed at this key support level, there are two levels to watch.
As structure shows here, we're in a support zone as established back in the middle of August. If it's broken, look to the 1.27 fib extension for a targeted short.
This is a trade done without posting to trading view. This is for my personal analysis later on. Three things that were decision points before executing trade was, 1) Fib Extension from B/C leg to D, 2) overbought RSI, 3) confirmed bearish gartley Profit this trade was 140 pips
Three things made me enter the trade. 1 and 4 hour RSI oversold. Fib extension confirmed support. Bullish crab pattern formation at fib extension. Will probably keep SL wide, as average true range ( volatility ) for this pair is higher than I would like.